Obvously other factors play in and the property is a big variable.  

@Lee SmithThanks Lee for the play by play, I liked your conversation, and will definitely take note of that...  

I'm about 20 podcasts in, and number of people I've heard interviewed have recommended just getting the license regardless of what role you want to play in real estate, partly because it gives you access to the MLS.

Keep in mind this is mostly an appreciation play, with a little bit of cash flow each month.2) If this is solid, why aren't several people jumping all over it?

If the home is being appraised as LTV should be post construction, if you are looking for a renovation loanI know this is probably not the exact answer you were seeking, but I think it should help broaden your play and help drill down the lender through a simple process of elimination, based on very specific qualifiers you define as it pertains to your specific strategy.

Just understand the issues at play here and think for yourself.

But I don't see any down play in this situation, please elaborate if you think I've missed anything. 

I'm excited to have played a small role in your first acquisition.

I know I dont - but how does it play from here - after I win this bid?

Benefit lots from BP, especially the podcasts which I played when I was exercising, driving, cooking except work and sleeping time.